Preview

Why Do Aquaries Do Actuaries Do Actuarial Work?

Good Essays
Open Document
Open Document
803 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Why Do Aquaries Do Actuaries Do Actuarial Work?
The opinion of “Actuaries do actuarial work, actuarial work is done by actuaries” (Akhurst, 1992) had been committed by financial security systems, because the understanding of financial and mathematical skills was unique to actuaries and they were respected as more technician than a financial manager. Actuaries did not need to work as group, and they were usually authorized directly from the boss, so that the skill of communication was not strongly needed. Comparing with accountants, the minimum requirements of completing licenses are totally distinct. Having the undergraduate degree in math or actuarial science is basic demand of being an actuary. They need at least two successful examination in actuary to start their first experience in a company. As long as the students meet the requirements, …show more content…
In order to be a fellowship of them, they have to pass at least 7 examinations, which almost take people the whole life. In Unite Kingdom, all actuarial departments and public service are collected in an office named “Department of the Government Actuary” which as a main part of government to provide analyzation and reports on all areas of business and finance. This is a feature of actuaries working only for local government to perform their knowledge. In order to keep growing, they have to consider how the actuaries form opinion that everyone thinks correct. They will check all the responses from survey to create all reasonable steps to make employers and employees satisfy. The explanation of data from survey will be the strong support, and if others doubts, they must ask the manager of survey to confirm the reliability and correctness of the

You May Also Find These Documents Helpful

  • Good Essays

    ‑ See the relevance of statistics and apply the learning to career practice and to other business courses,…

    • 1213 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Application 1 & 2

    • 812 Words
    • 4 Pages

    1. The reliability for both the clerical and the work samples are favorable. We see in the Clerical Test that the co-efficient alpha (at .85 and .86) and the test-retest (.92) are both high so we have an acceptable degree of reliability for the test. For the Work Sample (T) & Work Sample (C) we find the inter-rater agreements to be high at with Work Sample (T) being T1=88% and T2=79% and Work Sample (C) T1=80% and T2=82%, both above the 75% normal requirement for a reliable measure. Since all three show a decent level of reliability, it would be safe for Phonemin to use them in selecting new job applicants.…

    • 812 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Deutsche Allgemeinversicherung was founded in 1966 by Andreas Steininger. It was one of the world’s largest insurance companies. Around 51% of its business was in Germany with a 60% of its business in the field of retail insurance. Its keys to success were the traditional insurance management and its remarkable customer service. In DA, a typical process flow of a new policy would start by either a customer going to one of the companies branches or contacting a company agent. The customer would fill out an application – sometimes a check was attached- and the application was then sent through the company mail to the Retail Transaction Processing (VEG) division in Hamburg. Also, some customers filled out applications at home and sent them directly to a number of DA locations which would then transfer them to the Hamburg operation. Once the application was received, VEG separated the various parts of the application then scanned it and digitized. The electronic image was then retrieved from a server and delivered to associates desktop client computer. The associate would enter the information on the form into an appropriate database. If the information available in the application was complete a confirmation would be sent to the customer. In case the customer find out something wrong on the notification notice he/she would either call a toll number or send a letter describing the problem. At that point the Customer Problem Resolution division would deal with the problem. On the other hand, if the information in the application was not complete another associate responsible of talking to customers would call the customer to obtain the needed data. The management of DA knew that they delivered a high quality service, but what bothered them was the percentage of the first time accuracy. This number was 99% which made the management believe that there was something wrong with the peoples’ data. Around 10% of the forms were entered into the system with some mistake. The…

    • 1410 Words
    • 6 Pages
    Good Essays
  • Powerful Essays

    Firstly, actuaries and physical therapists both have to pass exams in order to earn professional title. Actuaries must go through a series of professional papers, which are exams for actuaries in order to achieve a status as an actuary. There are nine professional papers in total. After passing all nine of the exams, they will achieve associateship. In actuarial science, we will have the opportunity to work as an actuary while completing the examination process. Employers often allow study time during working hours, pay exam fees, and provide internships. Many companies which employ actuaries have automatic pay raises or promotions when exams are passed. As a result, actuarial…

    • 1336 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Lawyer Actuary Essay

    • 558 Words
    • 3 Pages

    Why are lawyers and actuaries so popular? In my opinion, the most important reason is the salary – they both earn big money. According to the data from the website payscale.com, “The average pay for an Attorney / Lawyer is $76,999 per year in the United States”. Beyond that, also the data from this website, “only 28% of them have a work experience above 10years, 8% of them have less than 1year”. These data analysis illustrates that as a company lawyer, which they also call them attorney, long working experience is not required. Once you get your degree a decent job is promised. On the other hand, “Actuaries in the United States take home an average $81K per year” (payscale.com). Not surprising at all,…

    • 558 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    This exam will be somewhat different from the first two exams. There will be a total of 2.5 questions—two comprehensive questions and one smaller question. One essay question from the Dept. is REQUIRED for everyone. Everyone MUST answer this question. The other two will be determined by tossing the dice.…

    • 525 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Decision Analysis

    • 19902 Words
    • 64 Pages

    1. What are the key findings of the recent research of 100 accountants, now business partners?…

    • 19902 Words
    • 64 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Guide

    • 701 Words
    • 3 Pages

    Recommended Course Selection for Asper Actuarial Major Students Admitted in September 2011 and Thereafter B.Comm. Actuarial Major: Year 1…

    • 701 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    In the business world, the importance of accounting has been promoted in recent years. To companies, accountants are essential. They are trained in…

    • 1345 Words
    • 6 Pages
    Better Essays
  • Good Essays

    Every actuary professional that I have talked to about becoming an actuary has recommended that I take the actuarial exams as early as I can to gain exposure and experience. In order to prepare for actuarial exams, during my first semester at UNCC, I took the first actuarial science as a first semester freshman. Currently, the second semester of my freshman year, I am enrolled in the next level actuarial science course. Taking these sophomore/junior level courses during my first year in college has been proved to be a struggle. Adjusting to college, an environment with an increased workload and highly demanding subject matter, has been difficult for me. I am still learning and gaining more understanding, but unfortunately, I did not perform as well as I wanted during my first semester. I earned Cs in my first Actuarial Science course and in Calculus III. Although my performance has been less than desirable, I am putting fort great effort and am currently working towards achieving greater academic success.…

    • 430 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Career Paper : Accountant

    • 1186 Words
    • 5 Pages

    For entry-level positions in Accounting, employers usually require a minimum of an Associate Degree in Accounting. Many larger businesses or corporations require applicants to have graduated from a Bachelor 's or Master 's Degree program in Accounting or Taxation (Board of Regents of the University of Wisconsin System, 2012). There is NO requirement for Accountants to get certified as a Certified Public Accountant CPA or a Certified Management Accountant CMA, but if they do they usually get an increase in pay and more responsibilities.…

    • 1186 Words
    • 5 Pages
    Better Essays
  • Good Essays

    ABC Insurance Company has started business in 1990.It has grown quickly over the last 20 years and now has 3 regional offices in the UK. It employs 300 people with the majority employed as Sales Consultants who sell home and personal insurance policies over the telephone. The Company culture is very much about team working, sharing in success and valuing each individual’s contribution to ensure the continuing growth and profitability of the organization. Peter Smith has been with the company for 8 years and has recently been promoted to Sales Manager, based at the Birmingham office and he has management responsibility for 20 Sales consultants. The previous manager of this team of Sales consultants retired recently and in the 6 months prior to leaving, did not actively manage the team to the extent that sales targets were not reached, absence levels were high when compared to the other Sales teams at the Birmingham office and generally the team performance was very poor. Motivation levels are low because bonuses are paid out on the achievement of sales targets and the team have not achieved bonus for the last 9 months. Peter is new to management but he has recently completed his management training and is very keen to put his new knowledge into practice. He knows he has to improve the team’s performance and levels of morale and motivation because his job could be at risk if he fails to do so. The team has not received any training that is regularly provided and Peter accepts that the team is not working together. More experienced members of the team are not helping out the newer team members who are making mistakes resulting in the more experienced team members then correcting the mistakes. This is causing ill- feeling and resentment and generally the team is feeling very disillusioned.…

    • 2214 Words
    • 9 Pages
    Good Essays
  • Good Essays

    The process of survey tools can be very efficient, but the outcome can vary from company to company and also on how it is been used. In Philips case the survey tools was to…

    • 606 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Mrs La vita

    • 1574 Words
    • 9 Pages

    of an applicant for the position of accountant is critically discussed. The focus area in this…

    • 1574 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Becoming An Actuary Essay

    • 383 Words
    • 2 Pages

    Heading into my senior year I was unsure of what I wanted to do with my life after receiving a high school diploma. From twelve years of education I learned mathematics is my strong suit and what I want my career focused around. But as a competitive athlete I knew my options for certain majors and minors would be limited because I wanted to obtain an athletic scholarship wherever I attended. After thorough research and five college visits, I am now certain that I am going to become an actuary. Becoming an actuary would fit my desire of using mathematics in my everyday work and preferred starting salary amount. Now, I have my final high school schedule that is beginning my path to becoming an actuary.…

    • 383 Words
    • 2 Pages
    Good Essays